TKO.TO Buy

I made a purchase @ 4.80 this morning... observing the white candle on the chart yesterday was looking at a buyers candle... this is not a ringed candle (three candle pattern) but today it could be...  this is an anticipated buy on the cusp... I have a love affair with TKO, so it's a tossup if I will take the pain if it comes or exercise my right to take a loss with a tight mental stop...

I must make it clear that at this point I feel we could take a further slide to the low 4's ( this is still very early in the coming dodrums) and my stop (mental) is a move below $4.70... however in the short term we have a good chance of bouncing into the high 4's and a break above 5.00 into the low to mid 5's might trace out a nice swing and test of the 4.70 mark... however that is speculation...

As an entry point ( lowering risk) anywhere from 4.68 to 4.65 would have been more cutting edge...

I have actually waited for today to feel out the open (the high finish yesterday - a high finish is a strong candle - with the hollow candle is risky to count on... but bullish to start thinking a bounce) and today we opened near yesterday's close (bullish) and dropped to a higher low (bullish so far)... which if it holds today.. completes the 3 candle pattern for a ringed bottom and a potential bounce for a swing... making it undecidedly safe to hold for the weekend (if it was a small cap no money no cash flow I would probably feel different) and possibly get a small gap up on Monday to really make me feel good...

I am definitely taking a chance.... but the action on Level II shows selling still quite active but... I'm also seeing weakness in the down move.... albeit the high finish yesterday on a white candle definitely a buyers day... which if the higher low  today holds the ringed low pattern...  along with some real time charting at very quick timing frequency using 5day charts and 15 minute to 60 minute time frames... I can see a sold push up attempting...

Glued to the screen describes today's action...  a doji finish or a penny or two up over .80 would be very strong... at least for a short term term perspective.


GLTA Lostoutwest


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